BOJ Governor Welcomes ‘Rebound’ of JMD

272

The Governor of the Bank of Jamaica, Brian Wynter, says its noteworthy that the Jamaican dollar has rebounded from the $138 to USD$1 low which had recently generated concern among some stakeholders.

The dollar opened trading Tuesday selling at $134.68 to the US.

Mr. Wynter told the PAAC this afternoon that it’s important that it be understood that the recent fluctuation in the value of the local currency is consistent with a flexible exchange rate regime.

[audio_mp3 url=”http://nationwideradiojm.com/wp-content/uploads/2018/10/Wynter-says-dollar-has-rebounded.mp3″]

The Central Bank Governor told PAAC Chairman, Dr. Wykeham McNeill, that the main macro-economic indicators in Jamaica are looking good.

[audio_mp3 url=”http://nationwideradiojm.com/wp-content/uploads/2018/10/Wynter-says-positive-and-stable-trend.mp3″]

Mr. Wynter says the Central Bank expects that inflation figures will soon become consistent with what had been projected and agreed to under the IMF deal.

[audio_mp3 url=”http://nationwideradiojm.com/wp-content/uploads/2018/10/Wynter-on-headline-inflation-.mp3″]

In the meantime, East Rural St. Andrew MP and PAAC member, Juliet Holness, is urging the Finance Ministry to engage in a comprehensive campaign to educate business people in particular about how the flexible exchange rate regime works.

Mrs. Holness made the recommendation today after BOJ Governor, Brian Wynter, showed committee members a chart which suggested that the dollar had both appreciated and depreciated significantly in recent months.

[audio_mp3 url=”http://nationwideradiojm.com/wp-content/uploads/2018/10/Wynter-says-not-a-slide.mp3″]

Mrs. Holness responded to Governor Wynter.

[audio_mp3 url=”http://nationwideradiojm.com/wp-content/uploads/2018/10/Juliet-Holness-says-educate-the-business-public.mp3″]

–30–